Alejandro Santiestaban, aka Alex Santi, is facing contempt proceedings for a third time in The Traders Domain proceedings.

The Traders Domain was a Ponzi scheme run by Canadian national Ted Safranko.

The Traders Domain collapsed in late 2022. The CFTC filed suit in October 2024, alleging over two thousand investors lost “no less than $283 million”.

As a top promoter of The Traders Domain, the CFTC named Santi and his company Centurion Capital Group INC as defendants.

The court appointed The Traders Domain Receiver’s third contempt motion hones in on $3.4 million derived through Alpha Trader. The Receiver also brings up the contrast between Santi’s financial representations and current lifestyle.

Santi has violated the Court’s orders by concealing assets and income while misrepresenting his activities and financial situation to the Court and the Receiver.

Notwithstanding Santi’s misrepresentations related to his involvement with Alpha Trader, Santi acted on behalf of the company and received at least $3,400,892.01 in payments toward an American Express credit card related to him during the pendency of the case.

Santi used this undisclosed money to fund his lavish lifestyle, including vacations, luxury watches, luxury vehicles, and expensive gifts to his fiancée.

Santi concealed all of this through a series of actions, omissions, and misrepresentations to the Court and the Receiver contrary to the Court’s orders.

This isn’t the first time Santi has failed to fully disclose his finances. The Receiver previously initiated contempt proceedings against Santi in 2024 and early 2025.

Those proceedings resulted in Santi being ordered to fully cooperate with the Receiver.

Fast forward to 2026; a year after the second contempt order was made, from the Receiver’s February 11th filing;

Santi’s efforts to conceal his involvement with Alpha Trader started early.

On November 11, 2024, Santi provided a sworn Accounting and Declaration in which he failed to disclose his ownership interest in Alpha Trader.

Santi has purportedly been funding his lifestyle with revenue tied to Alpha Trader. Here’s why that’s a problem.

On January 21, 2025, Santi filed a motion to unfreeze the Alpha Trader bank account and permit Santi to earn new income for monthly living expenses.

In connection with the Unfreeze Motion, Santi asserted to the Court that:

Santi is prohibited from doing any business related to the allegations contained in the Complaint and can no longer take part in Alpha Trader . . . At this time if Alpha Trader continues to do business, it will be operated by third parties unrelated to Santi.

Santi’s income must be derived from sources elsewhere.

And Santi’s sworn Declaration asserted that Alpha Trader only maintained two Morgan Stanley bank accounts.

At no time did Santi disclose that Alpha Trader had a separate, active bank account from which Santi was actively benefiting.

Santi held a 51% controlling share in Alpha Trader. Following “months of effort and unnecessary expenses”, Santi’s Alpha Trader interest was transferred to the Receiver.

During that time, the Receiver alleges Santi engaged in a “pattern of delay”.

the Receiver’s investigation recently revealed that Santi was engaged in a scheme to hide Alpha Trader’s assets and operations from the Court and the Receiver – while simultaneously receiving millions of dollars from Alpha Trader.

Santi failed to specifically disclose his 51% ownership interest in Alpha Trader until his February 2025 deposition, and he later told the Court in July 2025 that Alpha Trader was not doing business.

Contrary to Santi’s deposition testimony that Alpha Trader only had Morgan Stanley bank accounts and no other bank accounts with any other bank in 2024, the Receiver’s investigation uncovered that a Regions Bank business checking account ending in 4588 was opened in Alpha Trader’s name on October 15, 2024.

Contrary to Santi’s sworn statements that Alpha Trader was “not doing business,” the Regions Account statements reflect that, throughout the duration of the Receivership, Alpha Trader generated millions of dollars in revenue, and millions of dollars were paid for the benefit of Santi and his various associates.

Specifically, between October 2024 and December 2025, at least $3,400,892.01 was paid toward an AmEx credit card related to Santi.

Such payments made by Alpha Trader for the benefit of Santi reflect a shocking level of circumvention of his obligations under the Court’s orders and directly contradict Santi’s sworn statements.

Also contrary to Santi’s sworn statements that Alpha Trader was “not doing business, the Receiver’s investigation uncovered that Alpha Trader has been actively operating out of a warehouse located in Medley, Florida and generating hundreds of thousands of dollars in revenue per month.

Further, posts on the Alpha Trader social media accounts2 displayed several luxury vehicles at the Warehouse, including a white McLaren 765LT, a black Ferrari SF90 Stradale, and a white Rolls Royce Ghost.

The white McLaren 765LT was previously featured in Santi Instagram posts showing the listing price of the McLaren (July 2022) and showing Santi standing next to the McLaren (August 2024) with a decal on the rear windshield of the McLaren bearing his Instagram username (@mr.alexsanti).

The white Rolls Royce Ghost and black Ferrari were also featured on numerous Santi Instagram posts.

All such posts were removed from Alpha Trader’s social media accounts after the Receiver’s counsel sent the September 2025 Demand Letter to Santi.

When asked about the cars, Santi told the Receiver’s counsel they “were owned by his father-in-law”.

Armed with evidence to the contrary, the Receiver’s counsel demanded Santi turn over the cars and a Patek Phillipe watch.

The Receiver also requested Alpha Trader’s warehouse lease agreement, “all records related to Alpha Trader” and documents or text messages related to personal loans Santi received.

Santi’s lawyer responded on September 14th, informing the Receiver

Santi … is not in possession, custody, or control of any Alpha Trader Firm business records, assets, or account credentials.

In his third contempt motion, the Receiver is calling Santi’s bluff.

Santi’s claims regarding Alpha Trader are belied by the fact that Alpha Trader paid $270,092.49 to AmEx for Santi’s benefit less than two weeks before Santi responded to the Demand Letter.

And just days before responding to the Demand Letter, Santi received text messages and emails from the Warehouse landlord’s agent containing paperwork related to the Warehouse.

In fact, Santi was the signatory on the Alpha Trader Warehouse lease, which he never produced to the Receiver.

Santi was the main point of contact under the Warehouse lease, and communicated with the landlord, property manager, and building maintenance regarding various issues.

Santi held himself out as having authority to control and/or act on behalf of Alpha Trader.

For instance, on October 31, 2025, the landlord sent an email to Santi explaining that the Warehouse rent was past due.

Santi organized payment of Alpha Trader’s rent, which the Receiver independently confirmed.

On February 5, 2026, the Receiver’s counsel again notified Santi’s counsel that Santi was unauthorized from directly or indirectly acting on behalf of Alpha Trader.

The Receiver’s counsel then visited the Alpha Trader Warehouse and encountered several individuals associated with Santi and Alpha
Trader, including Rayko Bellmas and Marc Mendez.

The Receiver’s counsel were denied entry into the Warehouse despite providing the individuals with copies of the Court’s orders, and those individuals told the Receiver’s counsel and the police that they were occupying the Warehouse with Santi’s permission.

After being denied entry, the Receiver’s counsel notified Santi’s counsel of such denial, reminded Santi that he is not permitted to act on behalf of Alpha Trader (the Warehouse tenant), explained that Santi and all other individuals associated with him and Alpha Trader were not permitted access to the Warehouse, and also requested their compliance for an orderly transition of the premises.

Rather than comply with the court’s prior order he cooperate with the Receiver, Santi doubled down.

After the Receiver’s counsel contacted Santi’s consel, as above;

Santi immediately communicated directly with the Warehouse landlord and the landlord’s agent.

After the Receiver’s counsel were denied access into the Warehouse, Santi sent several text messages and emails to the landlord and its representatives seeking to solidify control of the Warehouse leased by Alpha Trader.

And, Although Santi testified during his deposition that Alpha Trader was in the business of selling “educational” courses, the Receiver’s investigation reflects that Alpha Trader is a proprietary trading firm engaged in Forex and Futures trading markets.

Alpha Trader’s help center specifies that customers can trade cryptocurrencies, Forex, and even commodity pairs such as XAU/USD.

Like The Traders Domain, Alpha Trader doesn’t appear to be registered with the CFTC.

In short, Santi represented to the Court and the Receiver that he was not involved with Alpha Trader, when in fact Santi has been actively controlling its operations, managing its assets, and receiving millions of dollars from it for his own benefit.

As to the funds Santi received through Alpha Trader;

The Receiver’s investigation uncovered that Santi has been taking lavish vacations, wearing luxury watches, and driving luxury vehicles after receiving more than $3.4 million from Alpha Trader during the receivership.

Santi also appears to have recently become engaged to Liset M. Cabrera.

Over the past several months, Ms. Cabrera has posted images to social media detailing valuable gifts from Santi, including a Rolex Datejust (est. value $15,000), a Bvlgari Serpenti Viper necklace (est. value $58,000), an Audemars Piguet Royal Oak (est. value $50,000), a Hermès Birkin bag (est. value $30,000), and what appears to be an expensive engagement ring. And, Ms. Cabrera recently posted a picture of Santi driving her in a Rolls Royce.

For her part, Cabrera doesn’t seem concerned the gifts Santi gave her were purchased with money that wasn’t his.

The Receiver has been attempting to serve Cabrera with a Subpoena for Deposition Duces Tecum since January 15, 2026, but she has been evading service.

The Receiver puts forth that in addition to violating court orders, Santi’s lavish spending comes at the cost of The Traders Domain victims.

Such funds could have gone toward the benefit of the victims of his fraud, instead of being used to willfully disregard and circumvent court orders to fund his lavish lifestyle.

For a third time, the Receiver has asked the court to hold Santi in contempt of court. If found to be, the Receiver has asked for

  1. full compliance with respect to assets, information and records;
  2. legal costs pertaining to contempt proceedings;
  3. a $3.4 million compensatory sanction, representing “total losses incurred by the [Receivership] Estate; and
  4. a $500 daily fine for each day of non-compliance, backdated to March 7th, 2025 (the date of the second contempt order).

 

Update 8th May 2026 – A hearing on Alex Santi’s third round of contempt was held on May 7th.

During the hearing Santi’s lawyer requested the hearing be continued. I don’t have any specifics, other than the other parties were directed to file a response by May 21st.

I’ll check back on May 21st for an update on proceedings.

 

Update 6th June 2026 – A May 12th order sheds light on the May 7th hearing. Sounds like Santi is trying to finesse the Judge;

Defendant Alex Santi argued that the Alpha Trader entity responsible for the transactions and payments at issue is not the Alpha Trader entity that is an asset of the Receivership.

Counsel further argued that Defendant Santi has no income and is supported by friends and family.

An evidentiary hearing has been scheduled for June 16th.